What To Do With AIG?: Let AIG Collapse Under Its Greed!

This AIG thing; the more I think about it the angrier I get. I talked to Connecticut economist Fred McKinney about this today. Dr. Fred says what the government should have done is make a list of all the companies AIG owed money to, then cut a deal with those companies and paid them off at a discounted rate. AIG then would have been left to fend for itself.

Instead, the government gave AIG the bailout money to handle its own problems. AIG, despite its near collapse, decided to hook up its execs with cushy bonuses. As I say in my Wednesday column, what AIG did may not have been illegal, but it sure was criminal.

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5 Comments

I agree with you. Hang on... this is going to be an ugly ride. If you let one go you've got to let them all go.
Mr. Obama has the toughest fight ever on his hands. How do you defeat american greed ?......

It is criminally irresponsible of our government to have handed over the funds to AIG to use as they wish. They may be bound by the bonus contracts, but we taxpayers are not. I am furious that our government allowed our money to be spent without control. Our bailout does not have to cover every stupid contract AIG made; if we can't designate what obligations we want to pay with bailout money, I say don't give it. I am very disappointed in Obama and Geithner, Congress, et al for this.

what is done is done.AIG has not done a good thing by abusing the aid it received from the government to pay bonuses and further more how could the government approve for its greedy plans.its very absurd and annoying and i truly believe compensation should be givren to all who have lost their money in AIG.

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Stan Simpson is an award-winning columnist at The Hartford Courant and a former radio talk show host at WTIC NewsTalk 1080 ...read more